Forex: EUR/USD eyes 1.3400 as momentum sharpens
Forex pairs in this Article »
EUR/USD
FXstreet.com (Barcelona) - The single currency is marching firmly towards the key resistance at 1.3400 on Thursday, posting at the same time fresh weekly highs above 1.3380
The euro found renewed support towards the end of the European session, as risk appetite is intensifying after a positive tone out of the euro zone docket. The improvement in January US manufacturing PMI also added to the risk trends.
At the moment, the cross is up 0.47% at 1.3387 facing the next hurdle at 1.3398 (high Jan.18) ahead of 1.3404 (2013 high Jan.14) and 1.3451 (Upper Bollinger).
On the downside, a breach of 1.3265 (low Jan.23) would aim for 1.3248 (low Jan.11) and then 1.3235 (MA21d).
The euro found renewed support towards the end of the European session, as risk appetite is intensifying after a positive tone out of the euro zone docket. The improvement in January US manufacturing PMI also added to the risk trends.
At the moment, the cross is up 0.47% at 1.3387 facing the next hurdle at 1.3398 (high Jan.18) ahead of 1.3404 (2013 high Jan.14) and 1.3451 (Upper Bollinger).
On the downside, a breach of 1.3265 (low Jan.23) would aim for 1.3248 (low Jan.11) and then 1.3235 (MA21d).
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